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May 23rd, 2012 
FAKE NEWS for the Zionist agenda In a report entitled “Global Non-Financial Corporates: Airlines, Oil Refining, European Autos and Retail at Risk in $150bbl Oil Price Scenario” published on Tuesday, the credit ratings agency said that European automakers would face a greater risk from an oil shock resulting from a US and EU economic confrontation with Iran than their US or Asian counterparts, although profits and cash generation for US automakers would also come under great pressure.
The report added that airlines would suffer operating losses from sustained higher costs for jet fuel, and the fare increases that would hurt passenger demand worldwide.
Meanwhile, retailers, restaurants and other industries that depend on discretionary spending would suffer if fuel prices surged for consumers.
Rising transportation and distribution costs would weaken revenues for European retailers. The makers of consumer durables would also see pressure from reduced consumer demand and higher raw material prices.
The United States and the European Union recently imposed tough financial and oil sanctions on Iran in an attempt to pile up pressure on the country.
The US sanctions measure requires foreign financial institutions to make a choice between transactions with the Central Bank of Iran and Iran’s oil and financial sectors or being banned from the US economy.
On January 23, the EU agreed to ban imports of oil as well as petroleum products from Iran and freeze the assets of the Central Bank of Iran across the EU.
Iran’s Minister of Economic Affairs and Finance Shamseddin Hosseini said on May 20 that oil prices will soar to as high as $160 per barrel if the EU sanctions against the Islamic Republic take effect.
MP/HJL/MA
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